300. Transfers not subject to compulsory registration.

The compulsory registration provisions1 do not apply to:

  1.  

    (1)     a transfer by operation of law, for example the vesting of land in personal representatives2;

  2.  

    (2)     an assignment of a mortgage term3; or

  3.  

    (3)     a surrender of a lease to the owner of the immediate reversion where the term is to merge in that reversion